CPP film manufacturing JV on the anvil
Japan’s DIC Corp is extending packaging technologies to Jindal Poly Films for mass production of cast polypropylene (CPP) film, demand for which is increasing from the Indian food industry that is looking for mono-material packaging and reducing the use of plastics.
DIC announced a CPP collaboration with Jindal Poly Films on 27 Jan 2021, pointing out that countries like India are experiencing a greater need for products with performance features that respond better to environmental concerns and sanitation issues.
Collaborative initiatives, expected in the fiscal year 2021, are:
Entering into a technology licensing agreement whereby DIC would extend packaging technologies to Jindal Poly Films;
Developing and mass-producing functional CPP film using DIC technologies at Jindal Poly Films’ plant in India; and
Conducting joint sales of functional CPP film manufactured by Jindal Poly Films in India with a view to establishing a joint venture.
Through this business, DIC has sought to provide value to society through the improvement of environmental performance, i.e., by making films thinner to reduce plastic use, and enhancing performance features such as easy peel, which makes packaging easier to open.
In the food packaging field, demand is increasing for films with performance features that meet such needs. Of particular note, demand for functional CPP film, which contributes to the realization of reducing plastics, mono-material packaging, is expected to expand in the future, said DIC.
Anticipating growth in the Indian market for CPP film, Jindal Poly Films entered this business in 2018, at which time it also approached DIC to propose collaboration.
Having determined that working with Jindal Poly Films would be an important first step in nurturing demand in the promising Indian market, DIC said it explored the proposal in detail.
Amid growing sustainability-related needs, DIC aims to expand its films business by capitalizing on this collaboration with Jindal Poly Films to introduce advanced technologies cultivated in Japan to the Indian market, which is expected to see significant growth going forward. #manufacturing #investment #technologies /fiinews.com